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<br />-� � (i)All or part of the Praperty,or a beneficial interest in a trus[owning all or part of the Property.is sold • _',_
<br /> or atherwise transferred(other than by devise or desccnt),and - ----• �"�-
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<br /> ,.� (ii) The Properry is not accupied by the purchaser or grantee as his or her principal resideace. or the : 1 ; :�, �,.
<br /> purchaser or grantee does so occupy the Property buc his or her credit has uot beea approved in ��°
<br /> � accordance with the requirements of the Secretary. , , . � `
<br /> (c)No Waiver. If circumstances occur that would permit Lender[o require immediate payment in full,but ;...,,�,;�=Y=—=-'=�
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<br /> � T.ender does not require such paymenu,Lender daes not waive iu rights with respecc to subsequent events. :,,. � _ , _,.
<br /> � (� Regatat�oas of HUD Secreiary. In many circumstances regulations issued by the Secretary will limit . �,,,� ;�
<br /> Lender's rights, in the case of payment defaults, to require immediate payment in full and fore�lose if not ,�„ i �
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<br /> � paid.This Securiry Instrument does not authorize acceleration or foreclosure if not permitt�i by regulatians : .•�_
<br /> � . of the SecretarY• ` .__.,y��"
<br /> � (e)Mo�tgage Not Iasured.Borrower agrees that if this Security Instcument and the Note are not detemuned .g�.--._.,:.�
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<br /> ' to be eligible for+n��*�ce under the Naaonal Housing Act within 60 days from the date hereof, Lender � . ;.�
<br /> � may, at iu option, require immediate payment in fiill of all sums secured by th'ss Securiry Iuscrument. A . �.:w,;_ .�_,,�„��
<br /> � �' written statement of any authoriud agent of the Secretary dated subsequent to 60 days from the date hereof, • .� �'� '�`�„,��
<br /> ,'i declin� to insure ttus Se�urity Insaument and the Note, shall be deemed conclusive proof of such r ::iT_^�� '�,��•`.-
<br /> ineligibiliry. Notwithstantling the foregoing, this option may not be exercised by Lender when the ; __ __'-���-
<br /> unavailability of insurance is solely due to I.cnder's failure to remit a mortgage insurance premium to the . ' i���:'
<br /> .,,� Secretary. ent in full .. � 4
<br /> 10. Reinstatement. Borrower has a right to be reinstated if Lender has required imnaecliate PaYm • •,` � �� _
<br /> , because of Borrower's failure to pay an amount due under the Note or this Seauity Insuumeat• T6is right applies - . �• �-
<br /> � even after fore�lasure proceedings aze instituted. To reinstate t he 5ecuri ty Instrument, Borrower shall tender in a ..:V�'�•y,.,,��� '°`�-
<br /> " lump sum all amouuts r�quired to bring Boaower's account current including, to the extent they aze obligadons of �:-*=�� � =+��-. '.
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<br /> � Borrower under this Securiry Iusuument,foreclosure costs aad reasonable and cuscomary attomeys'fces and expenses '��:�, •
<br /> . properly assoceated with the forectosuce proceeding. Upon reinstatement by Borrower,this Security Instrument aud �. •� � � �-
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<br /> tbe abligations that it secvres shall remain u► effect as if Lender had not required immediate payment in full. •,,y,,, a, ,
<br /> ' However. l.ender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after ttte � �.� `� � {•, �' '
<br /> � commencement of foreclosure proceedings within two years immediately preceding the wmmeacement of a current " ' �' �il
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<br /> � foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future. or (iii) �t _
<br /> . reinstatement will adve�scly affect the priority of the lten created by this Security Insuumeat. '
<br /> 11. Borrower Not Retcased; Fosbearnnce By I.ender Not a Waiver. Extension of the time of payment or � _ i
<br /> modification of amortization of the sums secwed by this Security Instrument granted by Lender co any successor ia � .��—
<br /> � int�rest of Bonower shall not operate to release the liability of the original Bonower or 6orrower's successor in :.,�.-._�
<br /> interest. Lendar shall not be required to commence proceedings against any successor in interest or refuse to extend ry - .^
<br /> time for payment or otherwise mudify amortizaaon of the sums secured by this Securiry[nsuument by reasoa of any :'„�_` � " �. , �
<br /> demand made by the original Borrower or Borrower's successors in interest.Any forbearance by Lender in exercising � �„�-�°
<br /> any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. '���` ;.
<br /> i Z.S u c c e�s o r s a n d A s s l g n s B o u nd;Joint and�everal Liabit[4 y;Co-Signers.The covenanu and agreements � ,���;�� _
<br />• � of this Security{nsuument shall bind and benefit the successors and assigns of Lender and Borrower,subject to the ___ --=—
<br /> provisions of paragraph 9(b). Boaower's covenanu and agreements shall be joint and several. Any Borrower who : ' _
<br /> co-signs this Security Insuument but does not execute the Note: (a) is co-signing this Security Instnunent only to �°'"'"~ _ .—..
<br /> � mortgage,grant attd convey that Borrower's interest in the Property under the terms of t6is Security Instrument;(b) :-•� -���
<br />- - is not personally obligated co pay rhe sums securui by i;►i�Sa:wi�y u-��-ur.tea.;aad tc}a�s s.h�s Ixnder an�an; ..—�?"" --�..�..- _
<br /> other Borrower may agree to eatend. modify,forbear or make any accommodations with regazd to the terms of this , :, _.,. �:,
<br /> , Seturity Instrument or the Note without that Boaower's consent• . �'�•• � ;•��'•� �.
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